Housing and Urban Development
Kutak Rock attorneys have extensive knowledge and experience representing clients in programs administered by the United States Department of Housing and Urban Development (HUD). We represent developers, nonprofits, investors, lenders, loan servicers, housing authorities and contractors in connection with HUD’s mortgage insurance, grant, rent subsidy, supportive housing and public housing programs. We also represent the issuers of mortgage-backed securities, guaranteed by the Government National Mortgage Association (GNMA), for loans insured by HUD.
HUD insures mortgage loans pursuant to various sections of the National Housing Act. We assist a variety of clients with such loans, which can be used for the acquisition, new construction, substantial rehabilitation and refinancing of multifamily housing developments, hospitals and nursing homes.
We also have counseled municipalities and housing authorities on grants under various programs, including Community Development Block Grants (CDBG), the HOME Investment Partnership Act (HOME) and the Neighborhood Stabilization Program (NSP). These grants can be applied to a variety of eligible uses, including infrastructure costs, the making of low-interest loans to developers, and the acquisition and rehabilitation of foreclosed and abandoned homes.
Our attorneys also assist clients on various other issues such as Previous Participation (2530) Certifications, 2530 “flags,” Real Estate Assessment Center (REAC) inspections and findings and Transfers of Physical Assets (TPAs).